Eli Lilly Stock Nabs Record on Obesity Drug Trial Data

Shares are up 39% year-over-year

Digital Content Manager
Jun 27, 2023 at 11:08 AM
facebook X logo linkedin

Eli Lilly And Co (NYSE:LLY) released mid-stage trial data earlier today showing its obesity drug candidate promoted weight loss of up to 24.2% after 48 weeks, beating competitors' results. The update comes as the weight-loss treatment market is reportedly expected to reach $100 billion by 2030. Additionally, the company declared a dividend of $1.13 per share for the third quarter.

In response, Barclays hiked LLY's price target to $500 from $420. More bull notes could be coming, given the security's 12-month consensus target price of $452.48 stands at a small discount to current trading levels.

Last seen up 0.7% at $455.75, Eli Lilly stock surged to an all-time high of $467.98 right out of the gate. The security is today eyeing its fifth win in six sessions, with long-time support from its 30-day moving average. Year-over-year, shares are up 39%.

Options volume is already running at double the intraday average volume, with 7,707 calls and 4,648 puts traded so far. The most popular contract is the weekly 6/30 470-strike call.
It's also worth noting that LLY boasts affordably priced premiums, per its Schaeffer's Volatility Index (SVI) of 23% that sits at the low 13th percentile of annual readings. In simpler terms, now looks like a great opportunity to bet on the equity's next moves with options. 


How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.